Dogecoin (DOGE) is poised for another rally, according to notable analysts in the crypto community. Traders have identified consistent breakout and retouch patterns that suggest an upward trend for the meme coin.
These patterns, observed over several years, indicate that DOGE is ready to pump again, potentially leading to substantial gains.
Dolgecoin’s Historical Patterns and Price Analysis
Trader Tardigrade recently tweeted that Dogecoin has re-touched a crucial curve and is ready for another rally. His analysis shows a recurring pattern where DOGE’s price breaks above resistance levels, retests these levels as support, and then enters a bullish phase.
$DOGE has re-touched the curve and ready to Pump This pattern is still going on.The next Rally will be interesting pic.twitter.com/eDnIq9pwxo
— Trader Tardigrade (@TATrader_Alan) August 1, 2024
Moreover, this pattern has been evident in three periods: 2016-2017, 2019-2020, and 2023. According to the provided chart, each retouch phase has been followed by a rally, suggesting that DOGE is about to have another bullish trend.
Tardigrade’s chart indicates that DOGE has completed another retouch phase as in 2023. This is a strong signal for traders, as historical patterns suggest a subsequent rally.
Moreover the analyst’s tweet aligns with this analysis, predicting an interesting and potentially profitable rally for DOGE. The pattern analysis shows increasing price peaks over time, indicating a long-term upward trend for Dogecoin.
DOGE Price Prediction
In addition to Trader Tardigrade’s analysis, another top analyst, JAVONMARKS, highlighted the historical log breakouts of Dogecoin.
He noted that these breakouts have consistently led to massive price increases. According to JAVONMARKS, each breakout run has been larger than the previous one.
Moreover, if this trend continues, Dogecoin could see a more than $10 valuation in a greater than 7,200% bull run. This projection further reinforces the bullish sentiment around DOGE.
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Historical Reliability and Market Impact
The historical reliability of these patterns provides traders with confidence in their predictive power. As these patterns have been consistent, they might suggest a repeat performance.
Additionally, the bullish sentiment expressed by analysts like Trader Tardigrade and JAVONMARKS could influence other traders and investors. Consequently, this could drive the price of DOGE higher.
The analysis and projections shared by the analysts suggest a promising future for the meme coin. The recurring patterns indicate that DOGE is set for another rally.
Hence, if these projections hold true, Dogecoin could experience substantial gains, potentially reaching new highs in the coming months.
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The post Dogecoin (DOGE) Price Surge Imminent? Expert Predicts $10 Rally as Meme Coin Mirrors Historical Patterns appeared first on CaptainAltcoin.
